Friday, 27 February 2015

Sensex soars on optimistic Eco Survey

The BSE Midcap and Smallcap indices have rallied over a per cent each at 10,742 and 11,289, respectively.

The market has rallied smartly in the early noon deals after the Economy Survey 2014-15 showed that FY16 GDP growth seems in the range of 8.1-8.5 per cent.

The Survery added that India's GDP is pegged to grow at 7.4 per cent for the current fiscal.

At 12:42 PM, the S&P BSE Sensex is trading at 28,990 up 243 points, while NSE Nifty is trading at 8,767 up 83 points.

The broader market continues to trade on a firm note, the BSE Midcap and Smallcap indices have rallied over a per cent each at 10,751 and 11,291, respectively.

All sectoral indices are trading on a positive note, except, the BSE FMCG index - down over a per cent at 8,484.

The Realty and Capital Goods indices have soared over 3 per cent each at Rs 1,821 and 17,735, respectively. The Metal index has surged nearly 3 per cent at 10,568.

The Bankex, Auto and Power indices are the other significant gainers.

On the BSE, the breadth is bullish - out of 2,632 stocks traded 1,619 stocks are advancing, while 914 stocks are declining.

There are no losers in metal space - Jindal Steel has zoomed over 6.5 per cent at Rs. 196. NMDC has soared nearly 4 per cent at Rs. 142.

Hindalco and SAIL have jumped over 3 per cent each at Rs. 154 and Rs. 69.85, respectively.

Coal India, Sesa Sterlite, Tata Steel and JSW Steel are the other significant gainers. 

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